Pitney Bowes Inc. (PBI) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP increased its position in Pitney Bowes Inc. (NYSE:PBI) by 18.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090,101 shares of the technology company’s stock after buying an additional 172,815 shares during the period. Dimensional Fund Advisors LP’s holdings in Pitney Bowes were worth $14,290,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its stake in shares of Pitney Bowes by 1,354.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 86,080 shares of the technology company’s stock worth $1,129,000 after buying an additional 80,160 shares in the last quarter. Huntington National Bank raised its position in Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock worth $222,000 after buying an additional 1,553 shares during the last quarter. Legal & General Group Plc raised its position in Pitney Bowes by 14.5% in the first quarter. Legal & General Group Plc now owns 307,482 shares of the technology company’s stock worth $4,031,000 after buying an additional 38,896 shares during the last quarter. Jensen Investment Management Inc. raised its position in Pitney Bowes by 14.9% in the first quarter. Jensen Investment Management Inc. now owns 31,770 shares of the technology company’s stock worth $417,000 after buying an additional 4,110 shares during the last quarter. Finally, CAPROCK Group Inc. purchased a new position in Pitney Bowes during the first quarter worth about $525,000. 76.98% of the stock is owned by institutional investors.
Shares of Pitney Bowes Inc. (NYSE PBI) traded up 0.24% during mid-day trading on Wednesday, reaching $12.71. 130,195 shares of the company’s stock were exchanged. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.10. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 24.97 and a beta of 1.17. The stock’s 50-day moving average is $14.63 and its 200-day moving average is $14.19.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The firm had revenue of $821.40 million for the quarter, compared to analyst estimates of $822.90 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Pitney Bowes’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that Pitney Bowes Inc. will post $1.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.75 annualized dividend and a dividend yield of 5.91%. Pitney Bowes’s dividend payout ratio is currently 144.23%.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Cross Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Sidoti lowered shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Pitney Bowes currently has an average rating of “Hold” and a consensus price target of $17.50.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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